KCM Investment Advisors LLC Sells 3,016 Shares of Alphabet Inc. (NASDAQ:GOOG)

KCM Investment Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 150,093 shares of the information services provider’s stock after selling 3,016 shares during the period. KCM Investment Advisors LLC’s holdings in Alphabet were worth $28,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Alphabet during the third quarter valued at $166,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter valued at about $33,000. Stansberry Asset Management LLC increased its position in Alphabet by 8.9% in the third quarter. Stansberry Asset Management LLC now owns 1,557 shares of the information services provider’s stock worth $260,000 after purchasing an additional 127 shares during the period. Finally, Soros Fund Management LLC bought a new stake in Alphabet during the 3rd quarter worth about $133,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Westpark Capital began coverage on Alphabet in a report on Tuesday. They issued a “buy” rating and a $210.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $208.65.

Alphabet Price Performance

GOOG stock opened at $147.74 on Friday. The stock has a 50-day moving average price of $177.04 and a two-hundred day moving average price of $178.30. Alphabet Inc. has a 1 year low of $147.54 and a 1 year high of $208.70. The stock has a market cap of $1.80 trillion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is 9.94%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,797 shares of company stock valued at $21,089,470. 12.99% of the stock is owned by insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.